1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The industry is in a situation of strong expectations and weak reality. In the short - term, SH2603 is expected to show a volatile trend, with the range around 2100 - 2300. Due to relatively loose supply and weak downstream demand, liquid caustic soda factory inventories have accumulated. Although the supply of caustic soda is expected to be high in December, the negative factors cannot be realized in the short - term. The planned commissioning of alumina plants in the first half of 2026 gives some support to the long - term price. Non - aluminum downstream may maintain rigid procurement [3][4] 3. Summary by Related Catalogs 3.1 Futures Market - The main contract closing price of caustic soda is 2250 yuan/ton, up 31 yuan; the main contract position is 159,783 lots, down 5,156 lots; the net position of the top 20 futures is - 19,516 lots, down 4,283 lots; the main contract trading volume is 492,973 lots, up 149,306 lots. The closing price of the January contract is 2150 yuan/ton, up 12 yuan; the closing price of the May contract is 2358 yuan/ton, up 34 yuan [3] 3.2 Spot Market - The price of 32% ion - membrane caustic soda in Shandong is 720 yuan/ton, unchanged; in Jiangsu, it is 790 yuan/ton, down 30 yuan. The converted 100% price of 32% caustic soda in Shandong is 2250 yuan/ton, unchanged; the basis is 0 yuan/ton, down 31 yuan [3] 3.3 Upstream Situation - The mainstream price of raw salt in Shandong is 247.5 yuan/ton, unchanged; in the Northwest, it is 220 yuan/ton, unchanged. The price of steam coal is 643 yuan/ton, down 1 yuan [3] 3.4 Industry Situation - The mainstream price of liquid chlorine in Shandong is 75.5 yuan/ton, unchanged; in Jiangsu, it is 200 yuan/ton, up 25 yuan [3] 3.5 Downstream Situation - The spot price of viscose staple fiber is 12,900 yuan/ton, unchanged; the spot price of alumina is 2,665 yuan/ton, down 10 yuan [3] 3.6 Industry News - From December 12th to 18th, the average capacity utilization rate of Chinese caustic soda sample enterprises with a capacity of 200,000 tons and above was 84.7%, a week - on - week decrease of 1.5%. From December 13th to 19th, the alumina operating rate decreased by 1.11% week - on - week to 85%. From December 12th to 18th, the viscose staple fiber operating rate remained stable at 89.62%, and the printing and dyeing operating rate decreased by 0.69% week - on - week to 62.06%. As of December 18th, the factory inventory of fixed liquid caustic soda sample enterprises with a capacity of 200,000 tons and above in the country was 464,700 tons (wet tons), a week - on - week increase of 1.66% and a year - on - year increase of 52.34%. From December 11th to 18th, the average weekly profit of Shandong chlor - alkali enterprises was 216 yuan/ton, an increase from the previous week [3] 3.7 Outlook - A 300,000 - ton unit in East China will restart this week, and a 160,000 - ton unit in Southwest China will be under maintenance. The capacity utilization rate of caustic soda is expected to increase slightly. There are few maintenance plans for chlor - alkali plants in winter, and the supply of caustic soda is expected to be high in December. The winter storage of aluminum plants downstream of alumina has ended and the raw material inventory is high, and the imbalance between supply and demand in the industry is expected to intensify. However, since enterprises have no large - scale inspection plans, the negative factors for caustic soda cannot be realized in the short - term. There are many alumina plants planned to be commissioned in the first half of 2026, which gives some support to the long - term price. Non - aluminum downstream may maintain rigid procurement with little change [3][4]

Report Summary 1. Report Industry Investment Rating No investment rating was provided in the report. 2. Core Viewpoints - Domestic refinery profits are shrinking, and production is expected to decline significantly. The export window may close again due to the rebound of the Shanghai-London ratio [3]. - The downstream market is entering the off - season. The real estate sector is a drag, and the infrastructure and home appliance sectors are weakening, while the automotive sector shows some bright spots due to policy support [3]. - The zinc price is expected to have a strong adjustment. Attention should be paid to the support level of 23,000 yuan/ton and the upper resistance level of 23,400 yuan/ton [3]. 3. Summary by Directory 3.1 Futures Market - The closing price of the Shanghai Zinc main contract is 23,230 yuan/ton, up 140 yuan; the 01 - 02 contract spread is - 40 yuan/ton, down 15 yuan [3]. - The LME three - month zinc price is 3,096.5 dollars/ton, up 18.5 dollars; the total position of Shanghai Zinc is 201,880 lots, up 3,161 lots [3]. - The net position of the top 20 in Shanghai Zinc is 3,793 lots, up 514 lots; the Shanghai Zinc warehouse receipts are 0 tons, unchanged [3]. - The SHFE inventory is 76,017 tons, down 4,560 tons; the LME inventory is 98,975 tons, down 275 tons [3]. 3.2现货市场 - The spot price of 0 zinc on SMM is 23,260 yuan/ton, up 170 yuan; the spot price of 1 zinc in the Yangtze River Non - ferrous Market is 23,350 yuan/ton, up 380 yuan [3]. - The basis of the ZN main contract is 30 yuan/ton, up 30 yuan; the LME zinc cash - to - three - month spread is - 29.14 dollars/ton, up 4.29 dollars [3]. - The factory price of 50% zinc concentrate in Kunming is 20,010 yuan/ton, down 30 yuan; the price of 85% - 86% crushed zinc in Shanghai is 16,350 yuan/ton, up 100 yuan [3]. 3.3 Upstream Situation - The WBMS zinc supply - demand balance is - 35,700 tons, down 14,700 tons; the ILZSG zinc supply - demand balance is 20,300 tons, down 27,600 tons [3]. - The global zinc mine production is 1.0666 million tons, down 31,000 tons; the domestic refined zinc production is 665,000 tons, up 40,000 tons [3]. - The zinc ore import volume is 340,900 tons, down 164,500 tons [3]. 3.4 Industry Situation - The refined zinc import volume is 18,836.76 tons, down 3,840.75 tons; the refined zinc export volume is 8,518.67 tons, up 6,040.84 tons [3]. - The social zinc inventory is 1.192 million tons, up 500 tons [3]. 3.5 Downstream Situation - The monthly output of galvanized sheets is 2.34 million tons, up 20,000 tons; the sales volume is 2.42 million tons, up 140,000 tons [3]. - The new housing construction area is 534.567 million square meters, up 43.9531 million square meters; the housing completion area is 348.61 million square meters, up 37.3212 million square meters [3]. - The automobile production is 3.519 million vehicles, up 240,000 vehicles; the air - conditioner production is 14.204 million units, down 3.8908 million units [3]. 3.6 Option Market - The implied volatility of the at - the - money call option for zinc is 15.64%, down 3.2%; the 20 - day historical volatility of the at - the - money option is 13.16%, down 3.2% [3]. - The implied volatility of the at - the - money put option for zinc is 15.64%, down 3.2%; the 60 - day historical volatility of the at - the - money option is 11.65%, down 0.2% [3]. 3.7 Industry News - The National Housing and Urban - Rural Development Work Conference plans to stabilize the real estate market in 2026, control the increment, reduce the inventory, and optimize the supply according to local conditions [3]. - The US GDP in the third quarter increased by 4.3% year - on - year, and the core PCE increased by 2.9%. The October durable goods orders decreased by 2.2% month - on - month [3]. - Trump proposed conditions for the Fed to cut interest rates, and some people suggested adjusting the inflation target [3].

1. Report Industry Investment Rating - No information provided 2. Core Viewpoints of the Report - The supply and demand are in a game. Some second - fattening pigs enter the market, supporting the short - term upward adjustment of hog prices. However, there is still pressure on the supply side in the medium term, and the terminal acceptance will decline after the price rises further, so the rebound space is expected to be limited. On the futures market, the hog 2603 contract rose 0.88% and has risen for three consecutive trading days, and it is expected to fluctuate within a short - term range [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the main futures contract for hogs was 11,480 yuan/ton, up 65 yuan; the main contract position was 161,915 lots, up 62 lots; the number of warehouse receipts was 863 lots, unchanged; the net long position of the top 20 futures holders was - 47,913 lots, down 1,675 lots [2] 3.2 Spot Market - The hog price in Zhumadian, Henan was 11,700 yuan/ton, up 100 yuan; in Siping, Jilin was 11,200 yuan/ton, up 100 yuan; in Yunfu, Guangdong was 12,000 yuan/ton, unchanged. The main hog basis was 220 yuan/ton, up 35 yuan [2] 3.3 Upstream Situation - The hog inventory was 436.8 million heads, up 12.33 million heads; the inventory of breeding sows was 39.9 million heads, down 450,000 heads [2] 3.4 Industry Situation - The year - on - year CPI was 0.7%, up 0.5 percentage points; the spot price of soybean meal in Zhangjiagang was 3,100 yuan/ton, unchanged; the spot price of corn was 2,338.24 yuan/ton, down 4.7 yuan; the Dalian Commodity Exchange hog feed cost index was 881.53, up 0.59; the monthly output of feed was 29.779 million tons, up 209,000 tons; the price of binary breeding sows was 1,432 yuan/head, down 5 yuan; the breeding profit from purchasing piglets was - 189.5 yuan/head, up 51.19 yuan; the breeding profit from self - breeding and self - raising hogs was - 130.88 yuan/head, up 32.46 yuan; the monthly import volume of pork was 60,000 tons, down 10,000 tons; the average price of white - striped chicken in the main producing areas was 14.1 yuan/kg, up 0.2 yuan [2] 3.5 Downstream Situation - The slaughter volume of designated hog slaughtering enterprises was 38.34 million heads, up 2.5 million heads; the monthly retail sales of social consumer goods in the catering industry was 605.7 billion yuan, up 85.8 billion yuan [2] 3.6 Industry News - According to Mysteel data, on December 24, the daily slaughter volume of hogs by sample slaughtering enterprises in key provinces was 164,794 heads, a 0.29% decrease from the previous day. Large - scale farms are slaughtering normally, and some areas are actively slaughtering standard hogs due to the epidemic, but the second - fattening replenishment has increased. On the demand side, bacon and sausage - making activities are in progress, and consumer demand is stable [2]

螺纹钢产业链日报 2025/12/23 | 项目类别 | | 数据指标 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | RB主力合约收盘价(元/吨) | 3,128.00 | +2↑ RB主力合约持仓量(手) | 1580041 | -11933↓ | | | RB合约前20名净持仓(手) | -10902 | -1364↓ RB1-5合约价差(元/吨) | -12 | -14↓ | | | RB上期所仓单日报(日，吨) | 82284 | 0.00 HC2605-RB2605合约价差(元/吨) | 153 | +2↑ | | 现货市场 | 杭州 HRB400E 20MM(理计，元/吨) | 3,330.00 | 0.00 杭州 HRB400E 20MM(过磅，元/吨) | 3,415 | 0.00 | | | 广州 HRB400E 20MM(理计，元/吨) | 3,510.00 | 0.00 天津 HRB400E 20MM(理计，元/吨) | 3,170.00 | 0.00 | | | RB 主力合约基差 (元/ ...

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core View of the Report - EB2602 showed a weak oscillation and closed at 6,509 yuan/ton. New production from a 200,000 - ton new device in Dongming and the restart of 600,000 - ton and 70,000 - ton devices in Lianyungang Petrochemical and Guangzhou Petrochemical respectively, along with an expanded impact from the maintenance of a 350,000 - ton device in Baolai, led to an increase in styrene production and capacity utilization rate. Downstream operating rates mostly decreased, and the consumption of EPS, PS, and ABS declined. The visible inventory generally maintained a downward trend. Non - integrated process losses deepened, while integrated process profits expanded. With the supply - demand balance of domestic styrene shifting to a looser state, the pace of visible inventory reduction is expected to slow. In the short term, EB2602 is expected to oscillate. Technically, attention should be paid to the support around 6,390 and the resistance around 6,690 [2]. 3. Summary According to Relevant Catalogs 3.1 Futures Market - The futures closing price of the active styrene contract was 6,509 yuan/ton, down 31 yuan. The trading volume was 445,526 lots, up 59,642 lots. The long positions of the top 20 holders were 351,589 lots, down 18,663 lots; the net long positions were - 24,911 lots, down 9,610 lots; the short positions were 376,500 lots, down 9,053 lots. The 1 - month contract closing price was 6,467 yuan/ton, down 36 yuan. The futures open interest of the active contract was 314,602 lots, down 228 lots. The total number of warehouse receipts was 600 lots, up 500 lots [2]. 3.2 Spot Market - The spot price of styrene was 6,642 yuan/ton, up 6 yuan. The FOB South Korea intermediate price was 812.5 US dollars/ton, up 17 US dollars; the CFR China intermediate price was 822.5 US dollars/ton, up 17 US dollars. The mainstream prices in North China, Northeast, South, and East China were 6,812.5 yuan/ton, 6,325 yuan/ton, 6,720 yuan/ton, and 6,550 yuan/ton respectively, with increases of 17 yuan, 50 yuan, 0 yuan, and 50 yuan [2]. 3.3 Upstream Situation - The intermediate prices of ethylene CFR Northeast Asia, CFR Southeast Asia, CIF Northwest Europe, and FD US Gulf were 746 US dollars/ton, 726 US dollars/ton, 661.5 US dollars/ton, and 408 US dollars/ton respectively, with changes of 0 US dollars, 0 US dollars, 3 US dollars, and 19.5 US dollars. The spot prices of pure benzene in Taiwan (CIF), Rotterdam (FOB), and the US Gulf (FOB) were 661.17 US dollars/ton, 739 US dollars/ton, and 279 cents/gallon respectively, with changes of 0 US dollars, 0 US dollars, and 0 cents. The market prices of pure benzene in South, East, and North China were 5,300 yuan/ton, 5,325 yuan/ton, and 5,150 yuan/ton respectively, with changes of 0 yuan, 40 yuan, and 0 yuan [2]. 3.4 Industry Situation - The overall styrene operating rate was 69.13%, up 0.84 percentage points. The national styrene inventory was 170,960 tons, down 7,550 tons. The total inventory in the East China main port was 139,300 tons, up 4,600 tons; the trade inventory in the East China main port was 84,600 tons, up 2,200 tons [2]. 3.5 Downstream Situation - The operating rates of EPS, ABS, PS, UPR, and styrene - butadiene rubber were 51.81%, 70.1%, 54.5%, 36%, and 79.23% respectively, with changes of - 1.96 percentage points, - 0.43 percentage points, - 3.8 percentage points, 0 percentage points, and - 0.94 percentage points [2]. 3.6 Industry News - From December 12th to 18th, the total output of Chinese styrene plants was 346,800 tons, up 2.38% from the previous period; the plant capacity utilization rate was 69.13%, up 1.02% month - on - month. The consumption of EPS, PS, and ABS in styrene downstream was 261,800 tons, down 3.89% month - on - month. As of December 18th, the styrene plant inventory was 171,000 tons, down 4.23% from the previous week. As of December 22nd, the styrene inventory in the East China port was 139,300 tons, up 3.41% from the previous week; the inventory in the South China port was 11,000 tons, down 26.67% from the previous week. As of December 17th, the non - integrated profit of styrene was - 203 yuan/ton, and the integrated profit was 421.08 yuan/ton [2].

Group 1: Report Investment Rating - No information provided on the industry investment rating Group 2: Core Viewpoints - On Tuesday, the freight index (European line) futures prices fluctuated slightly. The main contract EC2602 closed down 0.86%, while the far - month contracts rose between 1 - 2%. The latest SCFIS European line settlement freight rate index was 1589.20, rising 78.64 points from last week, a 5.2% increase. The SCFI rebounded for the second consecutive week, rising 46.46 points to 1552.92, a 3.08% increase. The full - load of shipping companies drove the futures prices up. The manufacturing PMI data in November showed a slight recovery, and the new export order index rose to 47.9, indicating a pre - Christmas recovery of terminal transportation demand. The 52 - week average spot freight rate for large containers was 2450 US dollars, and some voyages were over - booked. The "peace plan" between the US and Ukraine was initially completed, improving the Red Sea re - navigation expectation. The euro - zone economy continued to recover. Overall, the improvement of the trade - war situation and the arrival of the shipping peak season are favorable for the futures price recovery, while the short - term impact of the geopolitical situation on freight rates has weakened. The freight rate market is mainly affected by seasonal demand, so investors should be cautious, pay attention to operation rhythm and risk control, and track geopolitical, shipping capacity and cargo volume data [1] Group 3: Summary by Relevant Catalogs Futures Market Data - EC main contract closing price: 1806.600, - 15.7↓; EC second - main contract closing price: 1158, + 3.40↑ - EC2602 - EC2604 spread: 648.60, - 56.40↓; EC2602 - EC2606 spread: 474.90, - 76.90↓ - EC contract basis: - 217.40, + 65.20↑ - EC main contract open interest: 35004, - 1506↓ [1] Spot Market Data - SCFIS (European line) (weekly): 1589.20, 78.64↑; SCFIS (US West Coast line) (weekly): 962.10, 37.74↑ - SCFI (composite index) (weekly): 1552.92, 46.46↑ - CCFI (composite index) (weekly): 1124.73, 6.66↑; CCFI (European line) (weekly): 1473.90, 3.35↑ - Baltic Dry Index (daily): 2023.00, - 44.00↓; Panamax Freight Index (daily): 1323.00, - 41.00↓ - Average charter price (Panamax ship): 0.00, 0.00↑; Average charter price (Capesize ship): 28125.00, 1345.00↑ - Container ship capacity (10,000 TEUs): 1227.97, 0.00↑ [1] Industry News - Premier Li Qiang chaired a meeting on the preparation of the "15th Five - Year" Plan Outline Draft, emphasizing the planning of major projects - The Ukrainian delegation completed negotiations with the US in Miami, and the 20 - point "peace plan" was initially completed - The EU extended economic sanctions against Russia for 6 months until July 31, 2026, and introduced anti - circumvention measures [1] Key Data to Watch - US initial jobless claims for the week ending December 20, to be released on December 24 at 21:30 [1]

米调节储备投放传闻影响，种植户与贸易主体恐高心理陆续显现，开始释放粮源，且饲料以及深加工企业 库存安全，进一步备库积极性略有减退，高价买货积极性偏淡，价格继续小幅调整。盘面来看，近期玉米 期价高位回落，短期波动较大，暂且观望。 | 观点总结（ | 随着新季玉米上市量逐步增加，原料玉米供应较为充裕，行业开机率持续回升，供应端压力增加。截至12月17日，全国玉米淀粉 | | | | | | --- | --- | --- | --- | --- | --- | | | 企业淀粉库存总量107.4万吨，较上周增加2.50万吨，周增幅2.38%，月增幅0.47%；年同比增幅22.32%。不过，元旦及春节备货 | | | | | | 淀粉） | | | | | | | 重点关注 | 或提振下游行业需求预期，且木薯淀粉涨幅过大后，部分下游客户重新采购玉米淀粉，进一步提升其需求增量。盘面来看，受玉米 周四、周五mysteel玉米周度消耗以及淀粉企业开机、库存情况 | | | | | | | 数据来源第三方，观点仅供参考。市场有风险，投资需谨慎！ | | | | | | | 回落影响，淀粉同步回落，短期观望。 | | | | ...

Report Summary Investment Rating - No investment rating provided in the report. Core View - The optimistic trading sentiment in the precious metals market continues to boost the platinum and palladium markets. The 2606 main contracts of platinum and palladium on the Guangzhou Futures Exchange both hit the daily limit after the opening, with palladium falling back during the session. The continuous shortage of physical spot and cross - regional arbitrage trading have significantly amplified the price elasticity of platinum and palladium recently. In the long - term, platinum prices may be supported by the Fed's easing expectations, the continuation of the supply - demand structural deficit pattern, and the expansion of medium - and long - term demand expectations in the hydrogen energy economy. Palladium's demand is expected to weaken due to over - concentration in the automotive catalyst field and the continuous popularization of new energy vehicles, but the bullish sentiment driven by interest rate cut expectations may provide some support for its price. The prices of platinum and palladium show a parabolic upward trend, and the need for basis repair may increase the short - term correction risk [2]. Summary by Directory 1. Market Data - **Futures Market**: The closing price of the platinum main contract was 619.95 yuan/gram, up 56.35 yuan; the closing price of the palladium main contract was 532.55 yuan/gram, up 27.85 yuan. The platinum main contract's open interest was 10387.00 lots, down 277.00 lots; the palladium main contract's open interest was 3179.00 lots, up 90.00 lots [2]. - **Spot Market**: The Shanghai Gold Exchange's platinum spot price (Pt9995) was 561.61 yuan/gram, up 28.04 yuan; the Yangtze River palladium spot price increased by 6.00 yuan. The platinum main contract's basis was - 28.31 yuan/gram, down 28.31 yuan; the palladium main contract's basis was - 97.55 yuan/gram, down 21.85 yuan [2]. - **CFTC Non - commercial Long Positions**: The platinum CFTC non - commercial long positions were 9966.00 contracts, down 243.00 contracts; the palladium CFTC non - commercial long positions were 3003.00 contracts, down 342.00 contracts [2]. 2. Supply and Demand - **Supply**: The total annual supply of platinum in 2025 is expected to be 220.40 tons, down 0.80 tons; the total annual supply of palladium in 2025 is expected to be 293.00 tons, down 5.00 tons [2]. - **Demand**: The total annual demand for platinum in 2025 is expected to be 261.60 tons, up 25.60 tons; the total annual demand for palladium in 2025 is expected to be 287.00 tons, down 27.00 tons [2]. 3. Macroeconomic Data - The US dollar index was 98.26, down 0.45; the 10 - year US Treasury real yield was 1.94%, up 0.02%. The VIX volatility index was 14.08, down 0.83 [2]. 4. Industry News - The Ukrainian delegation completed negotiations with the US and the 20 - point "peace plan" is in the initial draft stage. Fed Governor Milan said that if the Fed does not continue to cut interest rates next year, it may face the risk of an economic recession. The EU extended economic sanctions against Russia for 6 months until July 31, 2026. According to CME's "FedWatch", the probability of a 25 - basis - point interest rate cut by the Fed in January next year is 19.9%, and the probability of keeping interest rates unchanged is 80.1%. By March next year, the probability of a cumulative 25 - basis - point interest rate cut is 44.7%, the probability of keeping interest rates unchanged is 47.1%, and the probability of a cumulative 50 - basis - point interest rate cut is 8.2% [2]. 5. Price Outlook - This week, the London platinum spot price is expected to face resistance at 2300 US dollars/ounce and support at 1800 US dollars/ounce; the London palladium spot price is expected to face resistance at 1900 US dollars/ounce and support at 1600 US dollars/ounce [2]. 6. Key Data to Watch - On December 23 at 21:30, the US GDP deflator quarter - on - quarter (%) will be released; on December 24 at 21:30, the US initial jobless claims will be released [2]

增加对苹果销售形成冲击。当前双节备货需求偏淡，短期价格继续下调可能。 免责声明 | 项目类别 | 数据指标 数据指标 | 最新 | 环比 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 期货主力合约收盘价:苹果(日,元/吨) 81 主力合约持仓量:苹果(日,手) | 9230 | | 144841 | -3937 | | | 期货前20名持仓:净买单量:苹果(日,手) | 4784 | -1241 | | | | 现货市场 | 甘肃静宁苹果现货价格(纸袋75#以上)(日, 山东沂源苹果现货价格(纸袋75#以上)(日, | 5.25 | 0 | 2.6 | 0 | | | 元/斤) 陕西洛川苹果现货价格(纸袋70#以上半 元/斤) 山东烟台栖霞现货价格(纸袋80#以上一 | | | | | | | | 4.2 | 0 | 4 | 0 | | 上游情况 | 商品)(日,元/斤) 全国:苹果产量(年,万吨) 二级果农货)(日,元/斤) 水果批发价:苹果(周,元/公斤) 0 平均批发价:富士苹果(周,元/公斤) | 5128.51 9.37 | 1 ...

Report Overview - Report Title: Red Date Industry Daily Report 2025 - 12 - 23 [1] - Report Date: December 23, 2025 [1] 1. Report Industry Investment Rating - No investment rating information is provided in the report 2. Report's Core View - The follow - up market trend of red dates still depends on the peak - season consumption performance. If terminal demand is released as expected, inventory clearance speed may accelerate and support price stabilization; if consumption falls short of expectations, existing inventory pressure may become more prominent. In the short term, supply is abundant and demand shows no obvious improvement, so red date prices are expected to remain weak [2] 3. Summary by Related Catalogs 3.1 Futures Market - The closing price of the futures main contract for red dates is 8,750 yuan/ton, a decrease of 70 yuan; the main contract's open interest is 129,269 lots, an increase of 3,667 lots. The net long position of the top 20 futures holders is - 14,157 lots, an increase of 431 lots. The number of warehouse receipts is 1,092, and the total effective warehouse receipt forecast is 1,069, an increase of 34 [2] 3.2现货市场 - In the spot market, the prices of red dates in different regions show different trends. For example, the price of Kashgar red date bulk goods remains unchanged at 6.5 yuan/kg, while the wholesale price of first - grade gray dates in Hebei drops by 0.15 yuan to 4.2 yuan/jin [2] 3.3 Upstream Market - The annual output of red dates is 606.9 million tons, an increase of 318.7 million tons, and the planting area is 1.993 million hectares, a decrease of 41,000 hectares [2] 3.4 Industry Situation - The national red date inventory is 16,108 tons, an increase of 318 tons compared to last week, with a month - on - month increase of 2.01% and a year - on - year increase of 34.68%. The monthly export volume of red dates is 2,205,220 kilograms, a decrease of 78,451 kilograms, and the cumulative monthly export volume is 25,753,622 kilograms, an increase of 2,205,220 kilograms [2] 3.5 Downstream Situation - Hao Xiang Ni's cumulative quarterly sales volume of red dates is 36,480.43 tons, a decrease of 2,981.06 tons, and the cumulative year - on - year output growth rate is 1.47%, a decrease of 34.59 percentage points. The average daily arrival of red date trucks at the Ruyifang Market is 5.13 trucks, a decrease of 0.25 trucks, and the monthly average wholesale price of red dates is 10.33 yuan/kg, an increase of 0.46 yuan [2] 3.6 Industry News - At the Beicuierzhuang Market, 5 trucks of red dates arrive at the parking area, mainly sub - standard products, with prices stable. Sellers are actively selling, and downstream buyers purchase as needed. At the Guangdong Ruyifang Market, 5 trucks of red dates arrive, mainly from Hebei, and downstream merchants purchase as needed, with about 1 truck sold in the morning [2]